Search form

Search form

Consumers prefer the experiences they have at retail centers, such as dinning out or catching a movie, to online shopping, according to Glimcher Realty Trust's Retail Monitor series. Retail centers have become destinations for shoppers to enjoy along with a place where they go to shop, says Michael P. Glimcher, chairman of the board and CEO of Glimcher. The survey was released at RECon.

Related Summaries

The combined Glimcher Realty Trust and Washington Prime is focusing on development across all retail categories, says Michael Glimcher, vice chairman and CEO of WP Glimcher. "The lines have been blurred for retailers today," he says, noting that tenants don't want to limit themselves to a specific type of property, such as malls or power centers.

Emerging trends as well as industry practices illustrate how the traditional retail center will remain a fixture for the vast majority of consumers, according to a variety of recent surveys. Retail center owners have taken steps to attract non-retail tenants, and shopping patterns are changing for consumers, who say they prefer buying separate articles of clothing at different stores -- supporting a retail center concept. "The way consumers enjoy the mall has changed. Today, the mall is a destination, offering more than just retail," says Michael P. Glimcher, chairman of the Board and CEO of Glimcher.

Retail fundamentals remain strong for Glimcher, Macerich and Simon Property REITs, although many would like to see consumer spending pick up at certain locations and with certain retailers such as special apparel tenants. "We are watching the juniors, the Abercrombies, American Eagles, Aeropostale," said Marshall Loeb, Glimcher Realty Trust's president.

The enduring presence of the shopping center and its evolution to accommodate e-commerce and mobile commerce has been a theme at the RECon conference this year. "The mall has been a resilient asset class," said Michael P. Glimcher, chairman and CEO of Glimcher Realty Trust. "Occupancy is high, and really you see tenants concerned about getting space."

The enduring presence of the shopping center and its evolution to accommodate e-commerce and mobile commerce has been a theme at the RECon conference this year. "The mall has been a resilient asset class," said Michael P. Glimcher, chairman and CEO of Glimcher Realty Trust. "Occupancy is high, and really you see tenants concerned about getting space."